Will a Vietnamese Communist Party member be disciplined if her husband lends money at high interest rates?

Will a Vietnamese Communist Party member be disciplined if her husband lends money at high interest rates?

Pursuant to Article 49 of the Regulation 69-QĐ/TW in 2022 stipulating disciplinary actions for Vietnamese Communist Party members prevention of social evil as follows:

1. Party members who violate one of the following cases causing less serious consequences will be disciplined by a warning:

a) Knowing but allowing their spouse, children, parents, siblings, and relatives on the spouse's side living in the family to gamble, engage in money laundering activities, lend or borrow money illegally in any form without taking preventive measures or promptly reporting to the competent state authority.

b) Knowing but allowing their parents, spouse, children living in the family to use or possess, circulate, buy, sell, or transport cultural products with prohibited or harmful content; weapons of war, equipment, and other supporting tools in violation of regulations without promptly reporting to the competent state authority.

2. In case of having been disciplined under Clause 1 of this Article and repeated or committing the offense for the first time causing serious consequences or violating one of the following cases, the disciplinary action will be a reprimand or dismissal (if there is a position):

a) Gambling or using drugs or participating in other social evils.

b) People with the direct task of fighting against social evils but condoning, connivance, assistance, turning a blind eye, or failing to promptly handle violators (buying sex, selling sex, using drugs, gambling, borrowing, lending money illegally or storing, circulating, buying, selling, transporting, using cultural products with prohibited or harmful content).

c) Possessing, circulating, buying, selling, transporting, and using cultural products with prohibited or harmful content.

d) Condoning, harboring, or due to irresponsibility, leading to prostitution, gambling, drug trafficking, illegal use of drugs, and other social evils in the unit, agency, organization, or area under their direct management and responsibility.

dd) Knowing but allowing their parents, spouse, children, siblings, or close relatives of themselves or on the spouse's side living in the family to use, produce, possess, buy, sell, transport illegal drugs.

3. In case of violating Clause 1, Clause 2 of this Article causing very serious consequences or violating one of the following cases, the disciplinary action will be expulsion:

a) Organizing the production, sale, or circulation and dissemination of cultural products with prohibited or harmful content.

b) Producing, possessing, buying, selling, transporting illegally or organizing the illegal use of drugs.

c) Using illegal debt collection methods in any form.

d) Organizing accommodation and brokerage prostitution; organizing prostitution activities; protecting prostitution; taking advantage of business services to engage in prostitution.

dd) Plotting, initiating, organizing gambling in any form or having been prosecuted for gambling but continuing to repeat.

According to the regulations above, a Vietnamese Communist Party member who knows but still allows their husband to engage in usury may be disciplined with a warning. However, it also depends on the consequences of the case.

Will a Vietnamese Communist Party member be disciplined if her husband lends money at high interest rates? - Source: Internet

What is the maximum interest rate for loans between individuals in Vietnam?

Pursuant to Article 468 of the Civil Code in 2015 stipulating interest rates as follows:

1. The rate of interest for a loan shall be as agreed by the parties.

The rate of interest for a loan agreed by the parties may not exceed 20% per year, unless otherwise prescribed by law. According to actual conditions and at the proposal of the Government, the Standing Committee of National Assembly shall adjust the above interest and send report to the National Assembly at the latest session.

If the agreed interest exceeds the maximum interest prescribed in this Clause, the agreed interest shall become invalid.

2. Where parties agree that interest will be payable but fail to specify the interest rate, or where there is a dispute as to the interest rate, the interest rate for the duration of the loan shall equal 50% of the maximum interest prescribed in Clause 1 of this Article at the repayment time.

As regulations above, the rate of interest for a loan agreed by the parties may not exceed 20% per year.

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